Business Overdraft (OD) Loan | Dukandar Overdraft Facility

Business Overdraft (OD) Loan | Dukandar Overdraft Facility

Blog Article

Applying for a Dukandar Overdraft Facility is a straightforward process, designed with small retailers and shop owners in mind. This overdraft facility helps retailers access funds quickly to meet their operational needs, such as restocking inventory or handling unforeseen expenses.

To apply, business owners generally need to have an active business account with a bank that offers this facility. The bank typically assesses the creditworthiness of the applicant by evaluating the business’s sales turnover, inventory levels, and overall financial health. In some cases, the overdraft may be secured against business assets like inventory or receivables.

The application process involves filling out a form and submitting necessary documents such as bank statements, proof of business registration, and any other financial documents required by the bank. One of the biggest advantages of this facility is its quick approval process, with funds being made available almost immediately upon approval.

Once approved, the shop owner can withdraw funds as needed, up to the sanctioned overdraft limit. The repayment terms are flexible, with no fixed monthly installments, and interest is charged only on the amount withdrawn, not the full overdraft limit.

The Dukandar Overdraft Facility is an excellent solution for shop owners looking for a flexible and accessible funding option. It allows them to manage cash flow issues efficiently without going through a lengthy loan approval process.